Teekay Tankers has signed agreements to equip 25 additional tankers with Yara Marine Technologies’ FuelOpt propulsion optimization technology. The order follows the installation and evaluation of FuelOpt onboard Zenith Spirit in 2021, followed by a further three vessels in 2022.

Teekay placed the new orders in Q1 and Q2 2023 after having confirmed that the use of FuelOpt onboard four of their vessels, operating with steady shaft power, resulted in fuel savings and emissions reductions of 3-5% through 2022. The additional investment is a key component in Teekay’s planned strategy for greater sustainability and ESG performance across their fleet, allowing them to work proactively towards the International Maritime Organization’s (IMO) goal of halving greenhouse gas (GHG) emissions by 2050.

Soumendu Das Roy, Technical Director at Teekay Tankers, said: “Energy saving is a non-negotiable priority for Teekay, as we remain committed to reducing emissions and streamlining operations across our fleet. FuelOpt has demonstrated tangible savings on our pilot vessels in 2022, which we hope to replicate further in the fleet. We look forward to continue working with Yara Marine Technologies on our journey towards greener shipping.”

FuelOpt is compatible with all existing and future fuels and is designed to be user-friendly. The system automates and executes key operational settings throughout a vessel’s voyage, thereby ensuring maximized fuel savings without compromising operational efficiency. Crew can control speed, fuel consumption, and engine power — or a combination of these — through a single intuitive panel on the bridge. The system adapts propulsive power to real-time environmental conditions and eliminates costly variations in speed and power, leading to fuel savings and emissions reductions.

Mikael Laurin, Head of Vessel Optimization at Yara Marine Technologies, said: “We are extremely proud to work closely with clients like Teekay Tankers to ensure that they have future-proof and cost-effective solutions for decarbonization. Shipping’s continued success hinges on our ability to address existing challenges, such as the rising costs of fuels and the need to reduce emissions, while including the potential expenses of future fuels in the strategy. Increased fuel efficiency is a practical, tried-and-tested solution that can address these challenges, now and in the future.”

“We look forward to continuing to support Teekay Tankers on their compliance and sustainability journey,” Laurin concluded.

FuelOpt can offer support in addressing the requirements for year-on-year Carbon Intensity Indicator (CII) improvements. The system logs all performance and navigational parameters in the vessel’s performance management and reporting software. This data can be synchronized with fleet management software — such as Yara Marine’s Fleet Analytics or third-party systems — to enable easy reporting.

When Shaft Power Limitation (ShaPoLi) functionality is included in FuelOpt as per Teekay’s vessels, the reporting also includes excess power reporting mandated by Energy Efficiency Existing Ship Index (EEXI) requirements on the use of ShaPoLi. With FuelOpt, the ShaPoLi functionality enforces an upper limit to the vessel’s shaft power output without any modification to the vessel’s existing machinery.

About Teekay Tankers

Teekay Tankers has a fleet of 44 double-hull tankers (including 25 Suezmax tankers and 19 Aframax / LR2 tankers), and also has eight in-chartered tankers. Teekay Tankers’ vessels are typically employed through a mix of spot tanker market trading and short- or medium-term fixed-rate time charter contracts. Teekay Tankers also owns a Very Large Crude Carrier (VLCC) through a 50 percent-owned joint venture. In addition, Teekay Tankers owns a ship-to-ship transfer business that performs full-service lightering and lightering support operations in the U.S. Gulf and Caribbean. Teekay Tankers was formed in December 2007 by Teekay Corporation as part of its strategy to expand its oil tanker business.

Teekay Tankers’ Class A common stock trades on the New York Stock Exchange under the symbol “TNK”.

To learn more, please visit: www.teekay.com